LeBron James buys pickleball team with Draymond Green and Kevin Love

LeBron James was already a co-owner of the Boston Red Sox of Major League Baseball, the Pittsburgh Penguins of the NHL and Liverpool FC of the English Premier League. LeBron James expands his sports portfolio again with the acquisition of a professional pickleball team.

James’ LRMR Ventures, which he owns with his longtime business partner Maverick Carter, is part of a consortium that is buying a Major League Pickleball expansion franchise for an undisclosed amount. James’ former Cleveland Cavaliers teammate Kevin Love and his Golden State Warriors rival Draymond Green are also investing in the team, which has not yet decided on a name.

Pickleball is extremely popular in the US, featuring: Front Office Sports reported last week that 66 new locations are opening in the US each month.

The 12-team MLP adds four clubs. Currently, the league counts retired New Orleans Saints quarterback Drew Brees, entrepreneur Gary Vaynerchuk and Milwaukee Bucks owner Marc Lasry among the team owners.

LeBron James (left, with wife Savannah) expands his sports portfolio again with the acquisition of a professional pickleball team. James’ former Cleveland Cavaliers teammate Kevin Love and his Golden State Warriors rival Draymond Green (near right, with wife Hazel Renee) are also investing in the team, which has not yet decided on a name

The court size is about a third the size of tennis, and the game relies much more on volley than its sister sport

Kevin Love (pictured with wife Kate Bock) is also investing in LeBron James’s yet-to-be-named team. Played both indoors and outdoors, Pickleball is a paddle sport similar to tennis, only instead of a fluffy Dunlop, it uses a perforated, hollow polymer ball (right)

“When I started playing pickleball, I immediately connected with the sports community and the ability to be both fun and competitive,” Carter said. CNBC. “Seeing the sport grow in communities everywhere is really exciting, and we look forward to bringing our expertise together to try and build a championship team.”

“Having LRMR Ventures, SC Holdings and their incredible group as owners and investors in Major League Pickleball is not only great for MLP, but it is a turning point for pickleball in general,” said MLP founder Steve Kuhn.

Played both indoors and outdoors, Pickleball is a paddle sport similar to tennis, only instead of a fluffy Dunlop, it uses a perforated, hollow polymer ball. The court size is about a third the size of tennis, and the game relies much more on volley than its sister sport.

The MLP has six tournaments scheduled for 2023 with over $2 million in prize money up for grabs.

Amy Pazahanick returns a shot to Bara Sebkova during the USA Pickleball Newport Beach West Diamond Regional at The Tennis and Pickleball Club in Newport Beach on September 4

Drew Brees is one of the investors already involved in Major League Pickleball

The sport has suddenly become popular, although it is difficult to pinpoint an exact reason for this.

A study by the Sports and Fitness Industry Association found that 4.8 million Americans played pickleball in 2021, an increase of 11.5 percent from the previous five years.

Pickleball has an advantage over other sports in that it can be played by athletes of all ages, although it is most popular among the 18- to 34-year-old demographic.

The MLP said it aims to grow the sport to 40 million players by the end of the decade.

Gary Vaynerchuk speaks onstage during The NFT Revolution and What It Means For Brands at the Debussy Theatre, Cannes Lions. The investor is also involved in pro Pickleball

James is only the second highest paid athlete in the world between salary and endorsements with $121.2 million, beaten by PSG and Argentine superstar Lionel Messi, who took in $130 million. However, the investment game is where LeBron has made enough money to outshine the likes of Tiger Woods, Messi, Magic Johnson and Floyd Mayweather.

As James’s basketball career settles into the last few years, he considers all of his retirement options, most notably his dream of owning an NBA team.

The Lakers forward is apparently in “pole position” to land a rumored expansion franchise in Las Vegas, according to veteran NBA insider Ric Bucher last month.

As he explained on his podcast, Bucher was told by league sources that expansion clubs in Las Vegas and Seattle could appear in 2025, after the NBA’s current media contracts expire. James would then be 40, an age at which he could still play, but NBA rules prohibit anyone on a team list from owning a share in that club.

James has expressed an interest in owning a Vegas-based NBA franchise.

“I want to own a team,” James said in a clip from his HBO television show “The in June.” “Yes, I want a team… I want a, yes, I want a team in Vegas. Yes, I want the team in Vegas.”

Of course, James is already a partner in the Fenway Sports Group, meaning that through the company he has minority stakes in several professional sports teams, including MLB’s Boston Red Sox, the NHL’s Pittsburgh Penguins, a NASCAR team, and Liverpool FC, which he originally invested with back. in 2011.